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The main rebar futures contract fell by 1.01% during the day, closing at 3,129 yuan per ton.

The largest fluctuation was seen in the 2-week CNY HIBOR rate, which rose by 5 basis points. As shown in the updated data, the overnight onshore RMB HIBOR is at 1.45%, up by 1 basis point; the 1-week rate is 1.47%, up by 3 basis points; the 2-week rate is 1.49%, up by 5 basis points; the 1-month rate is 1.57%, up by 1 basis point; the 2-month rate is 1.60%, up by 1 basis point; the 3-month rate is 1.63%, up by 2 basis points; the 6-month rate is 1.63%, down by 1 basis point; the 9-month rate is 1.65%, down by 1 basis point; and the 1-year onshore RMB HIBOR is at 1.67%, down by 1 basis point. BP = basis point.

Glonghui, June 18th｜Bridgewater Associates founder Ray Dalio: We believe we are currently at a critical juncture. We are entering an especially dangerous period, which is expected to last from the 2026 midterm elections through the 2028 presidential election. The monetary situation is becoming increasingly severe. The US government is currently spending $7 trillion, while revenue is only about $5 trillion, resulting in a 40% overspend. Although the government has a large amount of debt to finance, market demand for this debt is declining. This decline in demand is due both to standard supply and demand factors and to debt holders' concerns over potential sanctions.